Panels giant Arauco to acquire Masisa Mexico assets21 December 2017
South America based wood-based panel giant Arauco is to buy Masisa’s Mexican mills in a US$245m deal.
The deal is to include mills in Chihuahua, Durango and Zitácuaro, which comprise three particleboard lines with an annual capacity of 519,000m3 and a 220,000m3 capacity MDF line. The facilities also include three thermally fused laminate (TFL) lines, a resin plant and a veneer line.
“This action is part of our expansion plan that aims to position Arauco as a global company,” said Matías Domeyko, Arauco CEO.
“With this acquisition, we will be extending our presence in the North American panel market, where we see trends of continued market growth for this type of product, focusing on residential and commercial furniture, and industrial markets.”
In addition to its North American headquarters in Atlanta, Georgia, Arauco has 10 manufacturing facilities throughout the United States and Canada, with an additional US$400m particleboard and TFL plant under construction in Grayling, Michigan.
It is the second acquisition this year of Masisa assets by Arauco. In September it bought two Masisa mills in Brazil.